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Toronto Home Buyer: Can You Afford those Mortgage Payments

Toronto Home Buyer: Can You Afford those Mortgage Payments

This is a discussion on Toronto Home Buyer: Can You Afford those Mortgage Payments within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Outlined in my post on Mortgage Payments: What Can You Afford? I explained the PITH (principal and interest, taxes, and ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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09-28-2008, 05:32 PM

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Toronto Home Buyer: Can You Afford those Mortgage Payments

Outlined in my post on Mortgage Payments: What Can You Afford? I explained the PITH (principal and interest, taxes, and heating expenses) calculation for mortgage payment affordability. To further that post I started jotting down a list ...

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afford, buyer, home, mortgage, payments, toronto

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